What system is 3rd Edition? Is it under the GSL? Is it a new game system?
The version history of Earthdawn is a tad complicated... After FASA dropped the line, a company called Living Room Games obtained a license which didn't cover the reprinting of older FASA titles. So they published a handful of original products - at least one of these based on FASA notes - and a rulebook called Earthdawn 2nd edition.
Several years later, Redbrick obtained another license, which this time included the rights to re-publish old material. They took all the stuff from FASA, collated and reorganised it with only minor modifications into two massive (500+ pages) volumes available as PDF and POD: Earthdawn Classic.
So we had two different version of the game available in parallel. When POD prices and shipping by Lulu went through the roof - which had a big effect because Germany remains one of the top markets for Earthdawn - Redbrick examined other options and found one with Mongoose's label Flaming Cobra.
To make it clear to the customers that this version is the current one, it will be called Earthdawn 3rd edition. It is based on Earthdawn Classic (and thus FASA's old Earthdawn), again incorporating small changes mainly to make it less cumbersome, streamline it a bit, and remove some inbalances.
AFAIK the system will not be open and not use the GSL. The also announced Age of Legends will be published using the GSL, being a setting book for D&D. It is a different beast than Earthdawn 3rd edition.